According to the press release remitted by the company, the bid was being made at a price of 1 euro for each Fabian Romania share, almost double over the Thursday closing price on London’s AIM market. The entire issued ordinary share capital of Fabian Romania was valued at 50.8 million euros.

“I believe that our offer represents a full and fair price for Fabian Romania. Our investment in Fabian Romania allows us to fulfil my long held ambition to create a platform on whichwe can build a property company that will acquire and develop assets in Romania”, said Dinu Patriciu (photo).

Fabian Romania Property Fund Limited was incorporated in April 2005 and invests in the main sectors of the real estate market in Romania. The fund invests in a combination of co-investment development projects and fully-let buildings. The company is listed at London’s AIM and holds stakes in more than 10 real estate projects in Romania. The net value of properties amounts to 85 million euros. BSGP is fully controlled by Rompetrol Holding, chaired by businessman Dinu Patriciu.